Odaily Planet Daily reported that at the Token 2049 event in Singapore, Base Protocol Head Jesse Pollak delivered a speech stating that while the stablecoin market cap is approaching $300 billion, approximately 60% of current stablecoin reserves are held in US dollar assets, and 99% of stablecoins are denominated in US dollars. This necessitates the urgent development of localized stablecoins. In the future, Base will collaborate with stablecoin issuers in various countries and regions to create localized stablecoins, such as XSGD and AUDD.